Global financial leaders believe that the Fed will not cut interest rates twice this year

Some of the biggest names in global finance gathered at the Future Investment Initiative conference in Saudi Arabia seemed to suggest that the market's bets on the Federal Reserve to cut interest rates may be overdone. When asked if they thought the Federal Reserve would cut interest rates twice more this year, no one on a panel that included the heads of Goldman Sachs Group, Morgan Stanley, Standard Chartered, Carlyle Group, Apollo Global Management and State Street Corp. raised their hands. Most agreed that the Fed could cut interest rates once more by the end of 2024. BlackRock CEO Larry Fink said at the Future Investment Initiative forum in Saudi Arabia that he expects the Fed to cut interest rates by at least another 25 basis points this year. (Jinshi)